Good fishing for Sanford

Press, 20 December 1978, Page 24

Good fishing for Sanford

PA Auckland Sanford, Ltd, has experienced good fishing in the first three months of the present trading year, to November, with the catch up 18 per cent, on the comparable period of 1977, the chairman (Mr S. J. Lavelle) told the annual meeting. However, sales to November 30 were slightly below last year, he said.

The company had accumulated substantial quantities of snapper that would normally have been shipped or under a contract of sale. “This is not the case this year,” Mr Lavelle said, “as v.e believe better prices can b. obtained by holding. “The market is showing signs of improving and our marketing team are developing new markets that are no. currently over-supplied,” he said.

The main . species other than snappe’’ are selling freely, Mr Lavelle said. Mr Lavelle said Sanford must look further ahead as it was relying on profits

long term from fishing. He told the meeting the company had negotiated a; satisfactory joint venture to catch, process, and export fish, and an application was before the Government. He would not disclose the name of the foreign partner.

I The company was also negotiating for a further : purse seine vessel to fish into the Tauranga plant on a 12-month basis, and two more 29m trawlers had been ordered from Japan. These would begin fishing in New [ Zealand in May.